Things are a changing over at the TSP. Whether it is temporary due to the Coronavirus or permanent to make the TSP more competitive to civilian retirement account options, there are more options for you and your TSP investment.
Can You Do It?
Hopefully, if you are eligible for the TSP, you are taking advantage of all the benefits available to you. Low fees, professionally managed funds, and new withdrawal rules aimed at giving you flexibility when taking your money out of your account are three main benefits to the TSP. When contributing, you also need to be aware of the options available to you to maximize the tax efficiency and amount you are contributing. Take a few minutes today to get to kno
Federal Service employees, who also serve in the military, have access to some benefits with regards to the Thrift Savings Plan (TSP) that can apply if the employee is required to leave their Federal job to perform military service. This article will highlight the eligibility requirements, rules, and provide some examples to help you determine if this is a benefit that you can take advantage of.
When I talk to people about the Thrift Savings Plan the most common complaint I usually hear is how difficult it can be to withdraw funds from your account. Well, you may not believe it, but there is a bi-partisan effort underway in Congress to improve these rules and allow for greater withdrawal flexibility for TSP participants. In April, Senate Bill 873, The Thrift Savings Plan Modernization Act was sponsored by Senators Portman and Carper, and at the end of June, a companion bill, HR 3031, was sponsored in the House of Representatives by Representatives Cummings, Meadows, and Norton.